Russia–India: Legal Challenges for Business in an Era of Booming Bilateral Trade and Investment
Congress Centre, conference hall D2
Russia's “Pivot to the East" has provided an additional impetus to generate new economic ties between countries that have historically focused on working with classical financial centres, at a time when they are losing their credibility and reputation as trustworthy partners. Alongside its legal system, which is based on that of the UK, India has many national features which, when coupled with the overall exoticism of the country, create a complex backdrop for doing business. The pace of economic convergence between the two countries is at an all-time high. Last year Russia became India's largest supplier of crude oil. In 2023, the two countries switched from dollars to local currencies in trade transactions. Numerous Russian IT companies (VisonLabs, Geoscan, Quantum Communications, Scout, etc.) have entered the Indian market. Trial shipments of the new strategically important North-South ITC logistics route are underway. In other words, Russian business is actively entering the Indian market, which means that there is an immediate need for a comprehensive understanding of the Indian legal landscape, especially in the context of protecting the interests of companies. The situation is similar for Indian companies supplying goods to Russia through parallel imports under the legalized product list, as well as for domestic pharmaceutical companies that have a strong chance of taking over vacant market niches for medicines and medical devices. How can favourable access for business to the countries' markets be organized? How should information channels for doing business in India and Russia be centralized? How can regulatory and administrative barriers to business be effectively harmonized?
Managing Partner, Lawyer, Law Firm "RussianLegal"
Amarjit Singh Bedi
General Secretary, Bar Association of India
Managing Director, TECHNONICOL, Republic of India
Ashish Deep Verma
Founder, Managing Partner, Vidhisastras-Advocates and Solicitors
Director, OMZEN GLOBAL; Representative, Business Council for Cooperation with India
President, RUSSOFT Association
Director General, Pharm Aid
Managing Partner, Prudent Law Chambers